SharpLink Gaming Raises $200 Million to Expand Ethereum Treasury
SharpLink Gaming raises $200 million to expand its Ethereum treasury, positioning itself among corporations adapting capital strategies around blockchain assets. The funding will enhance SharpLink's ETH holdings, potentially exceeding $2 billion.
Key Points
- The direct offering was priced at $19.50 per share with backing from four institutional investors.
- SharpLink aims to stake ETH for yield and increase ETH-per-share for long-term shareholders.
- Vitalik Buterin highlighted the growing value of ETH treasuries as a management vehicle for investors.
- A wallet associated with PulseChain became the 5th-largest ETH holder with 171,054 ETH.
- Ethereum's on-chain activity surged, processing 1.87 million transactions, nearing its all-time high.
- UK regulators lifted the ban on crypto exchange-traded notes for retail investors, potentially boosting Ethereum's performance.
